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Johnson Outdoors (JOUT) - 2019 Q3 - Earnings Call Transcript
2019-08-04 07:43
Financial Data and Key Metrics Changes - Sales for the third quarter increased by 3% to $176.3 million, with year-to-date net sales at $458.4 million, reflecting a 1% increase compared to the same period last year [7][8][26] - Net income for the quarter was $22.1 million or $2.19 per diluted share, while year-to-date net income advanced 4% to $47.5 million or $4.72 per diluted share [8][30] - Gross margin for the quarter was 45.2%, down from the prior year due to tariffs on Chinese components, with an estimated impact of $5 million to $7 million on profits for the fiscal year [27][30] Business Line Data and Key Metrics Changes - The Fishing segment drove growth, with successful new products contributing to the sales increase [7][12] - The Camping segment saw strong participation among millennials, with sales for the Jetboil brand nearly doubling since its acquisition [21] - The Diving segment experienced positive momentum in North America, aided by an enhanced digital footprint [22] Market Data and Key Metrics Changes - Engagement in watercraft recreation remains steady, with millennials providing new opportunities for growth [18] - The outdoor recreation market is experiencing a rapid pace of change, necessitating a focus on consumer understanding and innovation [23][24] Company Strategy and Development Direction - The company emphasizes sustained innovation and understanding consumer needs as key strategic drivers for growth [24] - There is a focus on transitioning product lines to capitalize on market evolution and to enhance digital marketing and e-commerce efforts [19][21] - The company aims to maintain its market leadership through strategic investments in technology and innovation [25] Management's Comments on Operating Environment and Future Outlook - Management highlighted the importance of anticipating changes in the outdoor recreation industry to ensure ongoing success [23] - The company is committed to making strategic investments to sustain its technology and market leadership positions [25] - The management remains optimistic about future growth opportunities, particularly in the Fishing and Camping segments [19][21] Other Important Information - The company maintains a debt-free balance sheet and a healthy cash position, providing financial flexibility for strategic investments [31] - The effective tax rate for the year-to-date was 24.9%, significantly lower than the previous year's rate of 34.4% [30] Q&A Session Summary Question: Clarification on tariff impact and exclusions - The exclusion granted by the government was included in the reported quarter [34] Question: Impact of newly announced tariffs - The new tranche will impact the company but to a lesser extent than previous tariffs [35] Question: Insights on the product pipeline - The Fishing business has a strong pipeline of new products planned [36] Question: Competitive landscape response - The company is aware of new competitors and focuses on strong innovation to address competitive threats [38] Question: Higher bad debt expense details - The bad debt expense was characterized as isolated to one incident [39] Question: Ongoing digital investments - Digital investments are ongoing and necessary to compete effectively [42][44] Question: Fishing business performance and inventory - Retail inventories are fine, and the Fishing business is expected to end the season positively [46] Question: Quantifying tariff impact - The impact from tariffs in the quarter was approximately $1.9 million [49] Question: Cash management and dividend strategy - The company is looking for strategic acquisition opportunities while considering dividend growth [51][54]
Johnson Outdoors (JOUT) - 2019 Q3 - Quarterly Report
2019-08-02 17:41
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 28, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _________ Commission file number 0-16255 JOHNSON OUTDOORS INC. (Exact name of Registrant as specified in its charter) (State or other jurisdiction of incorpo ...
Johnson Outdoors (JOUT) - 2019 Q2 - Earnings Call Transcript
2019-05-03 20:37
Johnson Outdoors Inc. (NASDAQ:JOUT) Q2 2019 Earnings Conference Call May 3, 2019 11:00 AM ET Company Participants Patricia Penman - Investor Relations David Johnson - Vice President & Chief Financial Officer Helen Johnson-Leipold - Chairman & Chief Executive Officer Conference Call Participants George Kelly - Imperial Capital Anthony Lebiedzinski - Sidoti & Company Operator Hello everyone and welcome to the Johnson Outdoors' Second Quarter 2019 Earnings Conference Call. Helen Johnson-Leipold, Johnson Outdoo ...
Johnson Outdoors (JOUT) - 2019 Q2 - Quarterly Report
2019-05-03 16:49
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 29, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _________ Commission file number 0-16255 JOHNSON OUTDOORS INC. (Exact name of Registrant as specified in its charter) (State or other jurisdiction of incorp ...
Johnson Outdoors (JOUT) - 2019 Q1 - Earnings Call Transcript
2019-02-04 19:43
Johnson Outdoors Inc. (NASDAQ:JOUT) Q1 2019 Earnings Conference Call February 4, 2019 11:00 AM ET Company Participants Patricia Penman - Investor Relations David Johnson - Vice President and Chief Financial Officer Helen Johnson-Leipold - Chairman and Chief Executive Officer Conference Call Participants George Kelly - Imperial Capital Anthony Lebiedzinski - Sidoti & Company Brian Rafn - Morgan Dempsey Capital Management Operator Hello, everyone and welcome to the Johnson Outdoors First Quarter 2019 Earnings ...
Johnson Outdoors (JOUT) - 2019 Q1 - Quarterly Report
2019-02-04 19:18
For the transition period from _________ to _________ Commission file number 0-16255 UNITED STATES SECURITIES AND EXCHANGE COMMISSION JOHNSON OUTDOORS INC. Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 28, 2018 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (Exact name of Registrant as specified in its charter) (State or other jurisdiction of inc ...